What goes steady with private savings? This paper investigates reasons for the sustained growth in private savings in Indonesia since 1970, in a period characterized by economic growth, demographic changes, terms of trade movements, and financial liberalization. The main finding is that predictions from a simple life cycle model do well inasmuch as the remarkable growth in private savings rates is associated with a fall in the dependency ratio. This suggests that a reduction in the number of children relative to working age population has alleviated household budget constraints, thereby boosting savings rates.
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Length: 32 pages Date of creation: Dec 1996 Date of revision: Handle: RePEc:hhs:hastef:0150
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Find related papers by JEL classification: E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East N35 - Economic History - - Labor and Consumers, Demography, Education, Income, and Wealth - - - Asia including Middle East
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